ST on toll manufacturing to be collected

ISLAMABAD: The Federal Board of Revenue (FBR) has directed its field formations to start collecting sales tax on toll manufacturing.

According to the FBR's instructions issued to the field formations here on Thursday, the National Tax Council (NTC) in its meeting held on September 16, 2021 has decided that provinces shall not tax "Toll Manufacturing'', which will rest with the Federal Board of Revenue. As the sales tax on toll manufacturing falls under the domain of the FBR, it is therefore requested that necessary action may be taken for guidance of the taxpayers falling under respective field formations' jurisdiction, FBR's instructions added.

Copyright Business Recorder, 2021